Nevada_Executive_Budget_2013-2015

PROGRAM DESCRIPTION
NEVADA HOME RETENTION PROGRAM
101-4679
ENHANCEMENT
E225 EFFICIENT AND RESPONSIVE STATE GOVERNMENT
This requests the use of Mortgage Settlement funds through the Attorney General's Office to fund a proposed Home Retention Program to specifically attack the cause of Nevada's Housing
problems. There is approximately $11 billion in negative equity, "underwater mortgages," with around 52,000 homes seriously delinquent. This program is being developed to attack the
negative equity refinancing Nevadans into new fixed "market rate" loans. The Directors Office at Business and Industry is working with subject matter experts, state and federal agencies and
programs, along with the banking/investment sectors, to facilitate a program just for Nevada. The Attorney General's office has approved $49 million of mortgage settlement funds to
Business and Industry to create this program. The Department is developing a program to leverage these funds with others to create the biggest impact for Nevada.
2011-2012
ACTUAL
2012-2013
WORK
PROGRAM
2013-2014
AGENCY
REQUEST
2013-2014
GOVERNOR
RECOMMENDS
2014-2015
AGENCY
REQUEST
2014-2015
GOVERNOR
RECOMMENDS
RESOURCES:
TRANSFER FROM ATTORNEY GENERAL 0 0 0 49,000,000 0 0
TOTAL RESOURCES: 0 0 0 49,000,000 0 0
EXPENDITURES:
NEVADA HOME RETENTION PROGRAM 0 0 0 49,000,000 0 0
TOTAL EXPENDITURES: 0 0 0 49,000,000 0 0
SUMMARY
2011-2012
ACTUAL
2012-2013
WORK
PROGRAM
2013-2014
AGENCY
REQUEST
2013-2014
GOVERNOR
RECOMMENDS
2014-2015
AGENCY
REQUEST
2014-2015
GOVERNOR
RECOMMENDS
RESOURCES:
TRANSFER FROM ATTORNEY GENERAL 0 0 0 49,000,000 0 0
TOTAL RESOURCES: 0 0 0 49,000,000 0 0
EXPENDITURES:
NEVADA HOME RETENTION PROGRAM 0 0 0 49,000,000 0 0
TOTAL EXPENDITURES: 0 0 0 49,000,000 0 0
PERCENT CHANGE: % % % % -100.00%
DEPARTMENT OF BUSINESS AND INDUSTRY B & I - 16
B&I - BUSINESS AND INDUSTRY